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Xiaomi bets big on its new electric vehicle — targets 20 million premium users

BEIJING – Chinese smartphone company Xiaomi believes it's identified a consumer niche that will pay up for its upcoming electric car in a fiercely competitive market."We think it's a good starting point for us in the premium segment because we have already 20 million premium users in China based on the smartphone," Xiaomi Group President Weibing Lu told CNBC ahead of the car's international reveal at the Mobile World Congress in Barcelona, which kicks off Monday."I think the initial purchases wi...

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